Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: StockDung who wrote (13495)	6/30/2000 7:43:21 AM
From: Mr. Pink	Read Replies (4) of 18998

HISTORICAL DAY. MR. p$NK, IN HIS INFINITE WISDOM DOWNGRADES CNC TO T6/F. FIRST EVER RATING OF THIS CALIBER. Rationale Stock up from 4.75 to 9 1/16 on pure hype --Jacobs takeover story (false) --Greentree rumors (false) --Wendt appointment (true but who cares) Away from the sideshow the reality is company has mountain of debt and preferred and over $1.0 billion of maturities due this year. Deteriorating insurance operations --downgrade by a.m. Best --annuity outflows increasing --life policy outflows expected over next several months Greentree sale has not materialized and industry is on the ropes --expected sale for $750 a joke --liquidation of company likely and probably will result in no payment to parent company Cash difficult to extract from holding company assets Sale of Argosy interest stalled and suing partners on deal Trump not paying up for GM interest Tritel shares in slump. Good news on Wendt out. Next event is release of disappointing earnings. Company may not turn operating profit in Q2! Banks getting nervous! Ratings agencies mulling next move. Regulators interested only in policy holders and could be quick to pull plug as they did in Soutwestern Life and Penncorp. Mr. P$nk downgrades and applies HISTORIC T6/F RATING!!! ALL COMMMENTS ARE THE OPINION OF MR. P$NK, A DELUDED INTERNTET CELEBRITY. SHOULD NOT BE CONSTRUED AS A RECOMMENDATION TO BUY OR SELL OR SELL SHORT THESE SHARES. ENTERTAINMENT PURPOSES ONLY. MR. P$NK, IN HIS INFINITE WISDOM MAY BE LONG OR SHORT AND REVERSE POSITION WITHOUT WARNING. HE HAS NOT TAKEN HIS MEDICATION IN SEVERAL WEEKS AND IS CURRENTLY TYPYING ON A 5 YEAR OLD 486 COMPUTER IN A TATTERED BATHROBE UNSHAVEN, SCRATCHING HIMSELF DINING ON STALE TACO FLAVORED DORRITOS AND BEAN DIP FOR BREAKFAST.

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